India’s Imports from Russia Skyrocket 12x in Five Years While Exporters Struggle to Penetrate Russian Market
India’s trade relationship with Russia has taken a sharply imbalanced turn, as imports surged nearly twelvefold from $5.48 billion in 2020–21 to $63.81 billion in 2024–25, according to data from the Ministry of Commerce. Despite this exponential growth in inbound trade—driven largely by discounted oil purchases—Indian exporters have failed to make significant inroads into the…